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21 Feb 2008 05:53:31 | Stock Advisor Group Editorial Team
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Internal Control: Internal control is not that hard to attain,
but it is difficult for most people to understand how
significant it is. For example, most investors believe that
markets are living entities that create victims. If you believe
that declaration, then it is true for you. But markets do not
create victims; investors turn themselves into victims. Each
trader controls his or her own fate. Let's look at some details:
• Most successful experts achieve success by controlling risk.
Controlling risk goes against our natural tendencies. Risk
control requires great internal control. • Most successful
speculators have success rates of 35 to 50 percent. They are not
successful because they forecast prices well. They are
successful because the size of their profitable trades far
exceeds the size of their losses. This needs tremendous internal
control. • Most successful investors are contrarians. They do
what everyone else is scared to do. They have patience and are
eager to wait for the right opportunity. This also requires
internal control. Investment success requires internal control
more than any other aspect. This is the first step to trading
success. People who dedicate themselves to developing that
control are the ones who will eventually succeed. Get Free
Trading Tips Daily: http://stockadvisorgroup.com
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